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Dow Jones Slashes Projections,
Citing Advertising Weakness

By

Matthew Rose Staff Reporter of The Wall Street Journal

Updated March 8, 2001 7:41 a.m. ET

NEW YORK -- Citing the weak advertising market, Dow Jones & Co. slashed its first-quarter earnings projections and said it will reduce its work force -- further evidence that the newspaper industry is facing one of its toughest periods in a decade.

The publisher of The Wall Street Journal and WSJ.com said it expects to report earnings of between 16 cents and 20 cents per diluted share, in contrast to 88 cents a year ago and analysts' expectations of 56 cents, according to First Call/Thomson Financial. Dow Jones executives...